Short Interest in Reitar Logtech Holdings Limited (NASDAQ:RITR) Drops By 31.8%

Reitar Logtech Holdings Limited (NASDAQ:RITR) saw a large decrease in short interest in March. As of March 31st, there was short interest totaling 430,473 shares, a decrease of 31.8% from the March 15th total of 630,996 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 84,596 shares, the days-to-cover ratio is currently 5.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Reitar Logtech in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Reitar Logtech Stock Performance

Shares of RITR traded up $0.00 during trading hours on Wednesday, hitting $0.50. 69,268 shares of the company were exchanged, compared to its average volume of 1,224,457. The firm’s fifty day moving average is $0.67 and its 200 day moving average is $1.22. Reitar Logtech has a fifty-two week low of $0.42 and a fifty-two week high of $8.37.

Reitar Logtech (NASDAQ:RITR) last issued its earnings results on Tuesday, March 31st. The company reported ($0.04) EPS for the quarter. The business had revenue of $3.56 million during the quarter.

Hedge Funds Weigh In On Reitar Logtech

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Reitar Logtech during the third quarter valued at about $518,000. Geode Capital Management LLC acquired a new stake in shares of Reitar Logtech during the second quarter valued at about $131,000. Citadel Advisors LLC acquired a new stake in shares of Reitar Logtech during the third quarter valued at about $140,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Reitar Logtech during the third quarter valued at about $108,000.

About Reitar Logtech

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.